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wagwang 19 hours ago

It's inherently unfair because its used to drive down wages of the lower classes. Outside of highly skilled work that cannot be sourced from within the country that is critical for nation security, the moral response is to just pay the workers more.

SecretDreams 18 hours ago | parent [-]

> the moral response is to just pay the workers more.

While I don't disagree, and while I firmly believe in UBI (which is the natural conclusion to your logic), without a comprehensive plan in place, just "paying people more" will be a bit of a death spiral since that is a core contributor to inflation on a large scale.

autoexec 17 hours ago | parent | next [-]

If you look at the massive increase in, for example, CEO salaries over the last few decades why was nobody worried about inflation then? "Pay people more" seems to be just fine as long as it's only certain people. Once the wrong kind of people, whose wages have stagnated for decades, want an increase in pay then our entire economy is suddenly at risk. I feel that the main driver behind the inflation we've seen in the last few years has primarily been greed, but nobody seems interested in trying to fight inflation on that front either. Inflation is a problem, but we need a better way to deal with it besides "the average worker still gets paid like it's 1975"

JumpCrisscross 16 hours ago | parent [-]

> CEO salaries over the last few decades why was nobody worried about inflation then?

Because it’s economically insignificant. Total CEO pay across the Russell 1000 excluding Musk is in the tens of billions. Paying a few people more isn’t inflationary. (It’s other kinds of problematic.)

franktankbank 15 hours ago | parent [-]

What other kinds of problematic is it?

JumpCrisscross 14 hours ago | parent [-]

> What other kinds of problematic is it?

There seem to be social consequenes to that sort of income inequality. There are solid arguments for enabling founders to become fabulously wealthy. The argument seems a bit more stretched for managers.

wagwang 17 hours ago | parent | prev [-]

There's no evidence that tight labor markets lead to a inflation death spiral, food in america is supposed to be expensive because America is a wealthy nation. The elites like to dress this up as something that is bad for the lower class but it's quite the opposite, the lower class in wealthy high cost of living, low immigration countries do very well, not that there are many of these countries left.